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Profile Of AVM Hassan Bala Abubakar, Chief Of Air Staff

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Air Vice Marshal HASSAN BALA ABUBAKAR was born on 11 September 1970. He hails from Shanono Local Government Area in Kano State. He enlisted into the NAF as a member of NDA RC 39 and commissioned Pilot Offr on 19 Sep 92.

COURSES ATTENDED AND QUALIFICATIONS

The Air Officer Commanding, Logistics Command has attended several courses. Some of these include:

Bachelor of Science Degree from the Nigerian Defence Academy Kaduna.

Ab initio and Basic Flying Training Courses at the 301 Flying Training School Kaduna.

Basic and Advance Airborne Courses at Nigerian Army Infantry Center and School Jaji.

Company Amphibious Operations Course at Nigerian Army Infantry Center and School in Calabar.

Junior and Senior Command and Staff Courses at the Armed Forces Command and Staff College Jaji and

National Defence Course at the Nasser Higher Military Academy, Cairo – Egypt.

Master’s Degree in International Affairs and Diplomacy from ABU Zaria.

PREVIOUS APPOINTMENTS

The very senior officer has held several appointments, some of which are:
Admin Officer 16 Engineering Wing, 1 Engineering Group NAF Makurdi.
Officer Commanding Admin Services Flight/ Group Public Relations Officer, 97 Special Operations Group NAF Port Harcourt.
Officer Commanding Yellow Squadron – Air Force Military School Jos.
Admin Officer Primary Flying Training Wing – 301 FTS NAF Kaduna.
SO1 Admin 301 FTS NAF Kaduna.
Officer Commanding ‘B’ Squadron (Do 228) – 81 Air Maritime Group NAF Benin.
Team Leader MILOB Team Site 615 Mahagi (Ituri Brigade) MONUC.
Aviation Planning Officer, MONUC Air Operations Kinshasa, DRC.
Commanding Officer Base Services Wing 81 Air Maritime Group Nigerian Air force Benin.
Operations Officer Operational Conversion Unit 88 Military Airlift group Nigerian air Force Lagos.
Operations Officer 88 Military Airlift Group Ikeja Lagos. Commanding Officer 21 Wing 88 Military Airlift Group Lagos.
Group Safety Officer 88 Military Airlift Group Ikeja Lagos.
Fleet operation officer – 011Presidential Air Fleet.
Commander 011 Presidential Air Fleet.
Chief of Staff, Mobility Command.
Director of Policy, HQ NAF and lastly
Director of Operations, HQ NAF
Air Officer Commanding Logistics Command.
Currently the Chief of Standards and Operations, HQ NAF.

AWARDS/DECORATIONS

The senior officer has earned several awards and decorations, some of these include:
Distinguished Service Star.
Passed Staff Course (psc)
Fellow Defence College
Masters in International Affairs.
Member National Institute of Management.
Member Chartered Institute of Public Management.
Member Nigerian Institute of Safety Professionals.

MARITAL STATUS AND HOBBIES

Air Vice Marshal HB Abubakar is happily married with children and in his leisure time, the senior officer enjoys flying airplanes, reading, reflecting and keeping fit.

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Job Losses, Factory Closures Loom As Unsold Goods Pile Up — MAN

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AGAINST the backdrop of sustained pressure in the foreign exchange market and high cost of production, the Manufacturers Association of Nigeria, MAN has indicated that inventory of unsold goods is escalating to levels now threatening the existence of companies operating in the production sector of the economy with attendant job losses.

Findings show that as of the weekend the foreign exchange market had recorded over 254 per cent plunge in the value of the naira since flotation of the currency by the Central Bank of Nigeria (CBN) in June 2023.

Recall that the naira traded for N471 per dollar in the official I&E market on June 13, 2023 before the floatation of the currency, but exchanged for N1,665.50 to a dollar as at February 23, 2024 on the Nigerian Foreign Exchange Market (NAFEM), indicating a depreciation of more than 253.6 per cent over the eight-month period. The forex crisis is also stoking inflation, and coupled with high energy costs, purchasing power has continued plummet, stifling demand for goods.

Speaking on the impact of this development on the manufacturing sector, Director General, MAN, Segun Ajayi-Kadir, said: “There are reports that across the board, many warehouses and plants of many manufacturing firms are stockpiled with unsold goods manufactured last year. “The development is as a result of the devastating effects of the exchange rate crisis, inflation, fake and sub-standard goods, smuggling and other macro-economics challenges.”

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CBN Lifts Ban On BDCs, Introduces New Operational Mechanism

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In a major development aimed at financial stability and strengthening the naira, the Central Bank of Nigeria (CBN) plans to resume its weekly intervention in the country’s foreign exchange (FX) market through the Bureau de Change (BDC) operators.

In 2021, the central bank, in a bid to achieve its mandate of safeguarding the value of the local currency, ensuring financial system stability, and shoring up external reserves, announced the immediate discontinuance of foreign currency sales to Bureau de Change (BDC) operators in the country.

However, the resumed intervention, which would reportedly commence today for funding as well as Tuesday for collection, will see the apex bank inject FX into the subsector in a bid to rescue the naira from further depreciation against major currencies, particularly the US Dollar. The collection will be at designated CBN branches in Lagos, Abuja, Kano, and Awka, while details of the naira accounts to be credited for funding bidding will also be made available today.

CBN is also expected to publish the list of eligible BDCs to benefit from its funding using certain compliance criteria.National Executive Council of Association of Bureau De Change Operators of Nigeria (ABCON) hinted on the latest developments through a memo to its members over the weekend.

The association also warned members that it will no longer be business as usual under the new supervisory regime of the central bank, as any infringement or infraction would result in outright revocation of license and prosecution.

ABCON said through the association’s various engagements with the central bank, in conjunction with ABCON’s strategic partners, CBN had agreed to its request, under the bank’s supervision, to inject liquidity into the market through a weekly intervention beginning today.

CBN assured ABCON that the new circular on the Revised Regulatory and Supervisory Guidelines to BDCs, which was introduced over the weekend, was only a draft exposure that required the association’s inputs before the release of the final guidelines by the apex bank.

To that effect, the letters of the guidelines were not cast in stone, the association’s leadership told its members, who had been worried over the sweeping reforms in the document, which, among other things, prescribed N2 billion and N500 million minimum capital for national and state BDCs, respectively.

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